Product ID: SQMIG15A2114
Report ID: SQMIG15A2114 | Region: Global | Published Date: February, 2024 | Pages: 260 | Tables: 68 | Figures: 75
Polyurethane Catalysts Market size was valued at USD 69.98 billion in 2021 and is poised to grow from USD 75.19 billion in 2022 to USD 105.29 billion by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).
As more lightweight, robust, and multifunctional goods hit the market, demand for polyurethane catalysts is expected to rise. Furthermore, the forecast period is expected to bring new opportunities for the growth of the polyurethane catalyst market, owing to the increasing use of various types of polyurethane additives, such as catalysts, surfactants, fillers, and flame retardants, which contribute to the outstanding performance of foams and offer advantages in final foam performance.
As a result of technological advancements and the introduction of environmentally friendly products, more opportunities for overall industry growth are being created. Among the majority of end-user industries, the footwear industry heavily relies on polyurethane catalysts, and shoe manufacturing is expanding globally.
Construction activities are boosting demand for rigid foams, which is expected to allow the polyurethane catalyst market to expand significantly. The use of polyurethane catalyst for the development of rigid foam is expected to increase with the increased use of polyurethane in construction projects over the forecast period, driving market growth.
US Polyurethane Catalysts Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Polyurethane Catalysts is segmented based on the Type, Application, and region. Based on the Type, the Global Polyurethane Catalysts is segmented as Catalysts, Surfactants, Fillers, Flame Retardants and Others. Based On Application, the Global Polyurethane Catalysts is segmented as Foams, Coating, Glue Adhesion Agent, Elastomer, and Others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Polyurethane Catalysts Market Analysis by Product
Based on Product, Flame retardants type segment held the largest market share. Organ halogen and organophosphate compounds like polybrominated diphenyl ethers (PBDEs) and chlorinated tris are among the flame retardants that are of concern (TDCPP). There are several different kinds of flame retardants, including certain inorganic flame retardants, phosphorous-based flame retardants, brominated flame retardants, and chlorinated flame retardants. These are employed to create premium polyurethanes for usage in a range of industries, including automotive, construction, and electronics.
Polyurethane Catalysts Market Analysis by Application
Global Polyurethane Catalysts has been segmented on the basis of Foam, Coating, Glue Adhesion Agent, Elastomer, and Others. In 2021, the foam application market had the biggest market share for polyurethane catalysts. While stiff foams are mostly utilized as insulating materials in refrigerators, flexible foams are employed in applications including mattresses, furniture, and construction insulation, among others. PU-based coatings, which are typically used as additives in paints, varnishes, and finishing coats to protect and seal wood, consume a sizable amount of the PU by volume globally. PU-based paints are an excellent coating material for many wooden objects due to their exceptional resistance to water, high humidity, extreme temperatures, and fungus. Over the projection period, strong demand for PU foams is anticipated to drive PU catalyst demand. The segment's extensive use as cushioning in a variety of consumer and industrial goods, such as beds, furniture, automobile interiors, carpet underlay, and packaging, will help it maintain its market dominance over the projection period.
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Asia Pacific held the largest Global Polyurethane Catalysts market share. China is the world's biggest producer of footwear and automobiles, making it the biggest consumer of PU. China produces about % of the world's footwear, while India, Vietnam, and Indonesia collectively produce about 15 percent. As a result, Asia-Pacific (which includes China) accounted for over 45% of the world's total polyurethane consumption.
Europe accounts for a sizable portion of the global polyurethane catalyst market, owing to rising demand for residential insulation to improve energy efficiency, as well as legal requirements that drive the regional market.
The North America market growth has been accelerated due to the current economic climate and the introduction of many domestic businesses with strong technical capabilities. The US economy is distinguished by its high market awareness and technically sophisticated manufacturing, which drives market growth in North America.
Middle East and Africa is a rapidly expanding market demand. The demand for polyurethane catalysts in the region has been driven by the need for household protection as well as rising infrastructure practices.
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Polyurethane Catalysts Market Driver
Polyurethane Catalysts Market Restraint
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Global Polyurethane Catalysts is relatively fragmented, with a number of competitors. The prominent players operating in the market are constantly adopting various growth strategies to stand in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players include BASF SE, Manali Petrochemicals, Covestro AG, Kao Corporation, The Dow Chemical Company, Huntsman International LLC, Suzhou Xiangyuan Special Fine Chemical Co., Ltd, Tosoh Corporation, Polychemie Asia Pacific Permai., Evonik Industries AG, and others
Polyurethane Catalysts Market Top Player's Company Profiles
Polyurethane Catalysts Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Polyurethane Catalysts Analysis, in terms of application, the foam segment held the largest market share in both flexible and rigid forms and accounted for approximately 43% of the total Polyurethane catalysts market. Among regions, During the projection period, Asia Pacific region hold the majority market share, followed by North America and Europe.
|Market size value in 2021
|USD 69.98 billion
|Market size value in 2030
|USD 105.29 billion
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
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For the Global Polyurethane Catalysts Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Polyurethane Catalysts Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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